
ET Awards 2024: FM Nirmala Sitharaman reveals full spectrum of India's current challenges and opportunities
Nirmala Sitharaman said at a fireside chat at the ET Awards event on March 8.
Both sides should have an ambition for a good treaty, and for the sake of Viksit Bharat, India needs to have good traction on that front, the FM said, adding that it still needs to do a lot more to strengthen exports across the board.
Each one of the problems that the world in general — and some countries in particular — are facing, such as deflation, tariff or lack of demand, is in fact an opportunity for India — the kind of opportunity the country was waiting for, Sitharaman said.
In response to a question on likely dumping in India in the wake of Trump's tariffs, the FM, without naming any country, said that it could indeed lead to some amount of dumping by some. India must guard itself against it, she added.
Given the emerging situation, India would need to pull off a big balancing act — keep getting cheaper inputs, but still not become a victim of dumping. This was an apparent reference to China, where many small Indian producers source cheap inputs from, but which can do big-time dumping in Indian markets once Trump's tariffs take full effect.
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